How much does the IRS know before I hit 200 sales-20K
Hello Folks, first time poster.
I have a legit business physical where I pay a heft tax bill every year.
On the side I have a online business where I sell here and there, I have my company info as I have it tied to my bank.
Now I never hit 20 K sales there, but since I have my legit info tied to the Paypal and ebay acct, does the IRS "know" what is coming in and out of that Paypal? Or is that against laws, etc and they're only informed once I meet the thresholds?
Any advice would be greatly appreciated!
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